I have been sucessfully selling coins on ebay for over a year now. I have not made a fortune, but I sure have learned a lot of lessons to share with you.Lesson 1-PostageI reccomend, if you are selling expensive coins, that you spend more than a first class envelope on postage. If you are selling steel cents, or wheat pennies for $0.99, you will want to get Discount postage for your envelopea. For example, buy $10 of unused old stamps for $7. It can mean the difference between profit or not.Lesson 2-ShippingThis one is pretty simple-DO NOT CHARGE FOR SHIPPING!!! You want to advertize free shipping on your listings. Just integrate the shipping cost with the price of the item you are selling.Lesson 3-Store SubscriptionIt is not that expensive, ad if you are selling a lot of inventory, you will want to get at least the basic store subscription.Lesson 4- AddressesI just learned that it saves a lot of time and looks profesional. Print out return address labels and tape them on with a piece of tape. Custom address labels also look proffesional, but are too expensive to be worth it.Lesson 5-Fees (are annoying)Ebay will try to trick you many times with the fees. Basically, there are 2 types of ebay fees. Listing fees, and Final Value fees Thy all will get charged at the end of the month. Final value fees only are charged once your item sells. Listing fees get more tricky. Now because of the pandemic, all basic stores get 50k listings as ebay's way to help out small businesses. Once this ends, you will get a fixed amount of free listings each month. Why it's tricky is that you have to pay that fee again if something didn't sell last month. Ebay automatically charges you againANOTHER 5 LESSONS COMING MONDAY!!
Hey Guys! I started buying and selling coins on eBay around 2-3 months ago. There are not may eBay reviews in the blog, so I thought I might do one. My experience is mixed. I have had very good purchases, but a lot of bad ones too. Today, I am going to share it with you. You have to be very cautious when you buy or sell on eBay. It is very easy to get cheated. That said, I have also found wonderful gems for very cheap (that are authentic), but I also have gotten scammed once. Lets start from the positives in buying. I found a MS 63 NGC graded peace dollar for melt value ($ 17 + $ 3 shipping). This was a great buy. You can never go wrong buying high grade silver dollars for melt. It was a great addition to my collection, but I sold it after a month. The Red Book I bought was pretty helpful in determining the price for selling. If you haven't checked out the review of the red book, check it out if you want, it is pretty helpful if you are thinking to buy it. Another wonderful coin lot I bought was a collection of MS 70 Eagles for melt. This was also a wonderful purchase. One strategy I use is apply the newly listed and accepts offers filters. Just give your best offer and 1 out of 10 times they accept it. You also have to record when the opening of the package so you have proof if something goes wrong. Now we can go on to the scams. I bought a one ounce maple leaf coin from a seller that had 100 plus positive feedback and zero negatives. This coin was shipping from Canada. After 7 or 8 days I got it in the mail. I was so happy I recorded opening the package because the seller was arguing that I switched it out with a fake coin (which I wouldn't even thing of doing), but I had a continuous recording of me opening it and measuring the coin. It was a very lousy fake. The diameter of a real Maple leaf is about 1.29 inches, while this coin had a diameter of 1.6-1.7 (picture attached). It was also almost 2 ozs in weight. After I showed him the recording, he admitted, and said he only sold it to get something back because he was also scammed. After that, I was quickly refunded the whole thing including tax and shipping. Without the recording, it would have probably taken much longer. There are a lot of crooks on eBay so be careful. This is just my opinion so please take it with a grain of salt. I hope you learned something, and see you next time!